BDC, Solidarité fund invest in US venture firm

BDC Venture Capital and Fonds de solidarité FTQ are making commitments of $20 million and $10 million respectively to San Mateo CA-based Sanderling Ventures which, in return, will establish permanent operations in Montreal. The money will be used to establish a parallel fund to Sanderling's Venture Fund II to invest in early-stage life sciences projects with commercialization promise. Sanderling and other syndicate partners will then have the opportunity to provide the projects with further investment. Sanderling will take preclinical drug candidates through toxicology and early-stage clinical trials and those with promise will be supported through the full clinical process....